Profitable Business 1 (5cr)

Learning outcomes

The student is able to
- record business transactions in the accounting records
- assess the profitability of an organization
- use different management accounting techniques
- compile financial reports to support decision making

Teaching methods

Daytime learning:

A Canvas learning environment is used to support the implementation, but it is important to take part in teaching and guidance on campus according to schedule. The study unit includes working in pairs or groups. You will receive individual feedback for assignments from the teacher.

Time and location

Please refer to the Timetable Engine at https://lukkarit.laurea.fi/ for the schedule information. Laurea reserves the right to modify the timetable.

Learning materials and recommended literature

Will be given at the beginning of the study unit

Important dates

[Don't unnecessarily repeat the teaching schedule here. If the implementation has meetings with mandatory attendance, justify them here.]

Based on the degree regulations (2024), the student accepted for the implementation is required to confirm their participation by showing activity at the start of the study in the following way:

In order to demonstrate activity, the student must be present at the first contact lesson or notify the teacher in charge of their absence to confirm their participation in the study. Registration will be rejected if the student does not report their absence at the start of the study or the reason for the absence cannot be considered justified. Another student can be taken in their place.

Student workload

Workload of the study is measured in a way that to acquire the goal competence of the study, one credit corresponds to an average of 26.7 hours of work done by the student. The actual time needed varies e.g. according to prior competence.

Content and scheduling

Basics of Accountigg:
Accounting equation and double entry bookkeeping
Financial Statements
Budgeting
Cost Volume Profit -analysis
Teamwork

Evaluation scale

H-5

Evaluation methods and criteria

In this study unit the assessing of the competences will be done by using the criteria set for requirement level I.

Professional knowledge basis, information searching and reporting

To achieve grade 5 student must be able to
- use professional concepts extensively
- compare and choose
- relevant information
- report and communicate in a professional manner

To achieve grade 3 student must be able to
- use professional concepts in a consistent manner when explaining various work practices and situations
- gather information and use their knowledge basis
- report in the agreed manner

To achieve grade 1 (or pass) student must be able to
- use essential professional concepts when explaining various work practices and situations
- search for information in different sources
- report

Professional practice and workplace development

To achieve grade 5 student must be able to
- work independently, using the skills and methods learned
- take responsibility for interaction with customers and/or co-operation partners and for responding to their needs
- anticipate their need for guidance

To achieve grade 3 student must be able to
- work using the skills and methods learned
- engage in professional interaction with customers and/or co-operation partners and identify their needs
- take part in guidance and utilise it

To achieve grade 1 (or pass) student must be able to
- work under guidance using the skills and methods learned
- interact with customers and/or co-operation partners
- receive guidance

Teamwork, skills, leadership, and responsibility

To achieve grade 5 student must be able to
- promote the team’s work and team spirit
- manage their time appropriately, completing the agreed tasks at the required quality level
- work responsibly, applying the skills and methods learned
- plan and evaluate their work, taking safety and/or ethical aspects into consideration

To achieve grade 3 student must be able to
- engage in goal-oriented work in a team
- plan and manage the progress of their work and use of time
- detect safety-related risks
- justify their actions in accordance with the professional code of conduct

To achieve grade 1 (or pass) student must be able to
- work as a member of a team
- plan the progress of their work and use of time under guidance
- work safely and in accordance with the professional code of conduct
- follow the provided instructions and rules

“Students who have failed to demonstrate their competence in accordance with the approved level must supplement or retake their study attainment in a manner and schedule defined by the teacher of the study unit. If the student does not pass the assessment despite the opportunity to complete their study attainment, they must complete the study unit in question in full as specified by the teacher.” (Degree regulations 2024.)

All staff and students of Laurea are expected to adhere to good scientific practices, which includes appropriate referencing. Familiarise yourself with the practices and, if needed, ask for more information. All study assignments are to be done as individual work unless otherwise instructed. If Tournitin is used when assignments are checked, the lecturer will inform the students of this.